Infographic: 3 Simple Steps to Save On Your Mortgage

Mar 27, 2012 by     No Comments    Posted under: Educational, Finance
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This infographic was submitted to us by RateSupermarket.ca

The information here is really valuable (literally!) and well organized. It shows a very clear way to save a substantial amount of dough on your mortgage over time, and there’s tons of data to support just how worthwhile it is to take these steps. There are just a few spots where adding extra data viz or illustration could save some text.

While I wouldn’t say this IG is text-heavy, the font size and the fact that all the text is in caps make it feel a little overbearing in places. One quick way to cut that down in each section: “Total Interest Saved” and “Your Savings” give the same information, and the “Your Savings” section is much cuter (look at that lovable owl!), so I’d suggest cutting out “Total Interest Saved.”

The 18% of Canadians who’ve made a lump sum payment isn’t actually visualized–it’d be better to see it as a pie chart, or maybe as 1 out of 5 Canadians (the owls again?). Plus, the visualizations for 2 years saved on rapid payments and 1 year saved on lump sum payments are the same–maybe there should be 2 calendars for the rapid payments.

The thing to take away from this is that these are mostly very picky critiques! Overall, this IG is clear, concise and to the point. It is a clear sales pitch, which in general is best to avoid with infographics, but people looking to save money on mortgages probably don’t mind when they’re being shown how much money they stand to save.

I’d give this infographic a B: take out the repetition, boost the data viz a bit and maybe include some general information on Canadian home buyers (how many homeowners? average age? fastest-growing province?) to offset the salesy feel.



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